View source for E.l.f.

{{Short description|American cosmetics brand}}
{{lowercase title}}
{{Infobox company
| name = e.l.f. Beauty, Inc.
| logo = Elf new logo.png
| type = [[Public company|Public]]
| traded_as = {{ubl|{{NYSE|ELF}}|[[S&P 400]] component}}
| founders = {{ubl|Joseph Shamah|Scott Vincent Borba}}
| area_served = Worldwide
| key_people = {{Unbulleted list| Tarang Amin ([[chief executive officer|CEO]])|Mandy Fields (Senior Vice President, CFO)|Kory Marchisotto (Senior Vice President, CMO)|Scott Milsten (Senior Vice President, General Counsel & CPO)}} <ref name="Tarang Amin Named CEO of E.l.f. Cosmetics">{{cite web | url=http://www.wwd.com/fashion-news/fashion-scoops/new-ceo-7412367?src=nl/mornReport/20140206 | title=Tarang Amin Named CEO of E.l.f. Cosmetics | publisher=WWD | date=6 February 2014 | access-date=6 February 2014 | author=Brookman, Faye}}</ref>
| industry = [[Cosmetics]]
| products = [[Makeup]], bath products, skin-care products
| revenue = {{increase}} {{US$|1.02 billion|link=yes}} (2024)
| operating_income = {{increase}} {{US$|150 million}} (2024)
| net_income = {{increase}} {{US$|128 million}} (2024)
| assets = {{increase}} {{US$|1.13 billion}} (2024)
| equity = {{increase}} {{US$|643 million}} (2024)
| num_employees = 475 (2024)
| footnotes = Financials {{as of|2024|03|31|lc=y|df=US}}.<ref>{{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1600033/000160003324000020/elf-20240331.htm |title=FY 2024 Annual Report (Form 10-K) |date=May 23, 2024 |publisher=U.S. Securities and Exchange Commission}}</ref>
| subsid =
| founded = {{Start date and age|2004|06}}
| hq_location = [[Oakland, California]], U.S.
| website =
}}
'''e.l.f. Beauty, Inc.''' is an American [[cosmetics|cosmetics brand]] based in [[Oakland, California]]. It was founded by Joseph Shamah and [[Scott-Vincent Borba|Scott Vincent Borba]] in 2004.<ref name="businessw">{{cite news
|url=http://www.businesswire.com/news/home/20110107005042/en/e.l.f.-Cosmetics-Announces-Investment-TSG-Consumer-Partners
|title=e.l.f. Cosmetics Announces Investment from TSG Consumer Partners
|date=January 7, 2011
|publisher=e.l.f. Cosmetics
|access-date=2011-03-09}}</ref> Items include bath and skin-care products, mineral-based makeup, professional tools,<ref name="retailm"/> [[eyeliner]]s, [[lipstick]], [[lip gloss|glosses]],<ref name="infoweek">{{cite magazine
|url=http://www.informationweek.com/news/smb/ebusiness/showArticle.jhtml?articleID=211300224
|title=How To Boost E-Commerce Revenue With Community
|last=Clancy
|first=Heather
|date=October 24, 2008
|magazine=[[Information Week]]
|access-date=2011-03-09}}</ref><ref name="peta">{{cite news
|url=http://www.peta.org/living/beauty-and-personal-care/elf-cosmetics.aspx
|title=e.l.f. Cosmetics: Bargain Beauty Essentials Full of 'Cheap Thrills'
|date=October 2010
|publisher=[[PETA]]
|access-date=2011-03-09}}</ref> [[rouge (cosmetics)|blushes]], [[bronzers]], [[makeup brushes|brushes]], and [[mascara]], among others.<ref name="wsj">{{cite news
|url=https://www.wsj.com/articles/SB10001424052748703445904576118032658742632?mod=googlenews_wsj
|title=It's Just Lip Gloss, Mom
|last=Athavaley
|first=Anjali
|date=February 3, 2011
|newspaper=[[The Wall Street Journal]]
|access-date=2011-03-09}}</ref>
According to the company, its products are 100% [[cruelty-free]], and it supports [[PETA]]'s no fur campaign.<ref name="petahome">{{cite news
|url=http://www.eyeslipsface.com/peta.asp
|title=Non-Cruelty Statement
|publisher=e.l.f. Cosmetics
|access-date=2011-03-09
|archive-url=https://web.archive.org/web/20101230152324/http://www.eyeslipsface.com/peta.asp
|archive-date=2010-12-30
|url-status=dead
}}</ref> e.l.f. Cosmetics' products have been reviewed in ''[[Glamour (magazine)|Glamour]]'', ''[[Allure (magazine)|Allure]]'', ''[[Self (magazine)|Self]]'',<ref name="peta"/> ''[[InStyle]]'', and ''[[Good Housekeeping]]'',<ref name="cnn"/> and are sold in 17 countries, and in several stores including [[Target (store)|Target]],<ref name="prnews">{{cite news
|url=http://www.prnewswire.com/news-releases/elf-cosmetics-hits-2-million-95646214.html
|title=e.l.f. cosmetics Hits 2-Million!
|date=June 4, 2010
|publisher=e.l.f. Cosmetics
|access-date=2011-03-09}}</ref> [[Kmart (United States)|Kmart]],<ref name="peta"/> [[Dollar General]],<ref name="businessw"/> and [[Walmart]].<ref name="wsj"/> Over half the company's sales come from its website, which doubles as a social networking site with over two million members.<ref name="prweb">{{cite news
|url=http://www.prweb.com/releases/OprahsOList/MakeupSets/prweb4978244.htm
|archive-url=https://web.archive.org/web/20110123045853/http://www.prweb.com/releases/OprahsOList/MakeupSets/prweb4978244.htm
|url-status=dead
|archive-date=January 23, 2011
|title=Oprah's Favorite Eyeshadow Palette Back In Stock At e.l.f. cosmetics!
|date=January 18, 2011
|publisher=e.l.f. Cosmetics
|access-date=2011-03-09}}</ref>
==History and operations==
e.l.f. (short for EyesLipsFace<ref name="ecommerce"/>) Cosmetics was founded by Joseph Shamah and Scott Vincent Borba in June 2004, with the assistance of Shamah's father, Alan.<ref name="finda"/><ref name="businessw"/><ref name="ecommerce">{{cite news
|url=http://www.ecommerce-guide.com/article.php/3840586/eBiz-Profile-ELF-Eyes-Lips-Face-Cosmetics.htm
|title=eBiz Profile: E.L.F. (Eyes, Lips, Face) Cosmetics
|last=Beal
|first=Vangie
|date=September 23, 2009
|publisher=eCommerce-Guide.com
|access-date=2011-03-09}}</ref> The duo originally met at a party in 2002; Shamah was a 23-year-old [[New York University]] business student. Borba was a 31-year-old [[Los Angeles]] beauty-industry veteran, responsible for previously launching brands such as [[Hard Candy (cosmetics)|Hard Candy]] cosmetics.<ref name="finda">{{cite magazine
|url=http://findarticles.com/p/articles/mi_m0DTI/is_1_33/ai_n9505493/
|title=Bucking convention: challenging the industry standard of costly cosmetics, E.L.F. says, "the buck stops here."
|last=Pennington
|first=April Y.
|date=January 2005
|magazine=[[Entrepreneur (magazine)|Entrepreneur]]
|access-date=2011-03-09}}</ref> Both were enthusiastic about an inexpensive, high-quality cosmetics line for women and decided to form a company together. A few days after the party, they sat down to brainstorm, and a business plan was created within months. Borba claims the idea originated from seeing women with expensive cars such as [[BMW]]s and [[Mercedes-Benz]]es buying bargain-price cosmetics at [[99 cent stores|99-cent stores]] in Los Angeles.<ref name="cnn">{{cite news
|url         = https://www.cnn.com/2006/US/01/09/otr.elf/index.html
|title       = A pretty face that won't cost an arm and a leg
|date        = January 9, 2006
|publisher   = [[CNN]]
|access-date  = 2011-03-09
|url-status  = live
|archive-url  = https://web.archive.org/web/20121006021210/http://articles.cnn.com/2006-01-09/us/otr.elf_1_scott-vincent-borba-makeup-and-skin-care-products?_s=PM%3AUS
|archive-date = October 6, 2012
}}</ref>
On February 3, 2014, TPG Growth bought a majority stake in e.l.f. Cosmetics.<ref name="Tarang Amin Named CEO of E.l.f. Cosmetics"/> Joey Shamah was replaced by Tarang P. Amin, who "has been appointed president, chief executive officer and director of e.l.f. Cosmetics."<ref name="Tarang Amin Named CEO of E.l.f. Cosmetics"/>
In August 2023, it was announced e.l.f. had acquired the [[West Hollywood, California|West Hollywood]]-headquartered skin-care brand, Naturium for $355 million.<ref>{{Cite web |last=Sandler |first=Emma |date=2023-08-29 |title=E.l.f Beauty acquires Naturium for $355 million, signaling industry appetite for M&A |url=https://www.glossy.co/beauty/e-l-f-beauty-acquires-naturium-for-355-million-signaling-industry-appetite-for-ma/ |access-date=2023-08-29 |website=Glossy |language=en}}</ref><ref>{{Cite web |last=Manso |first=James |date=2023-08-29 |title=E.l.f. Beauty Bulks Up Skin Care With $355 Million Deal to Buy Naturium |url=https://wwd.com/beauty-industry-news/beauty-features/e-l-f-beauty-naturium-for-355-million-1235781074/ |access-date=2023-08-30 |website=WWD |language=en-US}}</ref> The acquisition was final in October 2023.<ref>{{Cite web |date=2023-11-01 |title=E.l.f. Beauty Raises Outlook After Sales Surged 76 Percent Last Quarter |url=https://www.businessoffashion.com/news/beauty/elf-beauty-raises-outlook-after-sales-surged-76-percent-last-quarter/ |access-date=2023-12-08 |website=The Business of Fashion |language=en}}</ref>
==Products==
The company started with only 13 makeup products, but has since developed more than 300 products that include bath products, skin-care products, mineral-based makeup, professional tools,<ref name="retailm">{{cite news
|url=http://www.retail-merchandiser.com/index.php?id=221:elf-cosmetics-covered&option=com_content&catid=93:archive&Itemid=284
|title=ELF: Cosmetics? Covered
|date=July 31, 2008
|publisher=Retail Merchandiser
|access-date=2011-03-09}}</ref> [[eyeliner]]s, [[lipstick]], [[lip gloss|glosses]],<ref name="infoweek"/><ref name="peta"/> [[rouge (cosmetics)|blushes]], [[bronzers]], [[makeup brushes|brushes]], [[mascara]],<ref name="wsj"/> and many more. Most items are considered affordable, with an average retail price of $9.<ref name=":0">{{Cite news |last=Danziger |first=Pamela N. |date=August 30, 2023 |title=Color Cosmetics Powerhouse E.l.f. Beauty Acquires Naturium, Broadening Reach Into Skincare |work=Forbes |url=https://www.forbes.com/sites/pamdanziger/2023/08/30/color-cosmetics-powerhouse-elf-beauty-acquires-naturium-broadening-reach-into-skincare/?sh=4d62aa7179b3 |access-date=December 20, 2023}}</ref> The variety of e.l.f. products allows the company to target a demographic with a broad age range, from teenagers to women in their 40s and 50s.<ref name="businessw"/> All of their products are vegan.
In 2011, the company carried different product lines, which include e.l.f. Studio, e.l.f. Minerals, and e.l.f. Essentials.<ref name="businessw"/>
In 2011, e.l.f. Cosmetics had three different lines:
*'''e.l.f. Studio''' – makeup line includes professional makeup for professional [[makeup artists]] and consumers.
*'''e.l.f. Minerals''' – consists of makeup made out of natural minerals.
*'''e.l.f. Essentials''' – includes "every-day" makeup supplies at lower prices, in an effort to be affordable.<ref name="home">{{cite news
|url=http://www.eyeslipsface.com/
|title=Makeup Line Overviews
|publisher=e.l.f. Cosmetics
|access-date=2011-03-10}}</ref>
As of 2023, the company has only two product designations, '''e.l.f. Cosmetics''' and '''e.l.f. Skin.''' The latter is a skin-care line similar to the discontinued '''e.l.f Bath & Body''' line, both including [[moisturizer]]s, [[cleanser]]s, and other skincare products.<ref name="businessw" /><ref name=":0" />
==Sales==
===Retail===
e.l.f. Cosmetics is currently available in 18 countries including the [[United States]], [[Canada]], [[Australia]], the [[United Kingdom]],   [[Saudi Arabia]], [[France]], [[Colombia]], and [[Spain]].<ref name="businessw"/><ref name="prnews"/> Products can be purchased at regional drug chains across the United States and Canada.<ref name="cnn"/> e.l.f products are most commonly found in Target. In March 2010, e.l.f.'s $1 and Studio line of products were placed in over 700 [[Target (store)|Target]] stores,<ref name="prnews"/> with most individual items prices at $1 and $3.<ref name="wsj"/> Another Target expansion to include most outlets happened in March 2011.<ref name="wsj"/> Other stores include [[Kmart (United States)|Kmart]],<ref name="peta"/> [[Dollar General]],<ref name="businessw"/> and [[Walmart]].<ref name="wsj"/> e.l.f. is also sold at various supermarkets and women's apparel discount retailers, often in four-tiered spinners or "fish bowls" in impulse-buy sections.<ref name="retailm"/>
===Website===
====History====
In 2004, the company was having only partial success stocking its products in retail stores, including [[dollar stores]].<ref name="stretcher">{{cite news
|url=http://www.stretcher.com/stories/06/06sep18c.cfm
|title=The Budget Smart Girl's Guide to Make Up
|last=Palmquist
|first=Susan
|publisher=The Dollar Stretcher
|access-date=2011-03-09}}</ref> ''[[Glamour (magazine)|Glamour]]'' magazine wanted to feature an e.l.f. product but told the company they couldn't unless the product was nationally available for their 2 million-person readership base.<ref name="retailm"/><ref name="ecommerce"/> e.l.f. Cosmetics at that point had a website intended as a product showcase,<ref name="retailm"/> and that year it relaunched the site as an [[e-commerce|e-commerce site]], quickly shipping out thousands of orders.<ref name="cnn"/> Since the premiere of the new site, e.l.f. products have been featured in ''Glamour'' over seven times.<ref name="glamour">{{cite news|url=http://www.eyeslipsface.com/tab_buzz.asp?filterBy=100010|title=The Buzz: ''Glamour''|publisher=e.l.f. Cosmetics|access-date=2011-03-10|url-status=dead|archive-url=https://web.archive.org/web/20110710212850/http://www.eyeslipsface.com/tab_buzz.asp?filterBy=100010|archive-date=2011-07-10}}</ref> The website is now the brand's primary sales vehicle<ref name="cnn"/> and accounted for approximately 50% of all sales in 2008.<ref name="infoweek"/>
====Features====
In June 2007, e.l.f. launched a beauty [[blog]] and [[advice column]] that touts products (not only e.l.f.) and talks about celebrity sightings. Since then, the length of customer visits to the website has tripled.<ref name="infoweek"/> All product pages on the site host a "chat now" button that lets customers connect directly with one of the company's in-house professional makeup artists. The site hosts a "virtual makeover lab", where customers can digitally test products on models or their own photos.<ref name="ecommerce"/> Customers can create a personal profile, publish and comment on blogs, converse with other customers, and access a beauty encyclopedia.<ref name="retailm"/> They can also create a "beauty profile" and are recommended e.l.f. products according to their skin type, hair and eye colors, and typical beauty regimen.<ref name="retailm"/><ref name="peta"/> Also included is the option to create a wish-list that connects to [[Facebook]],<ref name="infoweek"/><ref name="entretwo">{{cite magazine
|url=http://www.entrepreneur.com/magazine/entrepreneur/2008/august/195616.html
|title=Know How to Hold 'Em
|last=Clancy
|first=Heather
|date=August 2008
|magazine=[[Entrepreneur (magazine)|Entrepreneur]]
|access-date=2011-03-09}}</ref> or view educational web videos on makeup techniques and styles.<ref name="businessw"/><ref name="stretcher"/>
The website currently includes over 2 million members.<ref name="prweb"/>
====Promotions====
In 2007, the company began to invest heavily in [[email marketing]], and its weekly email campaigns are considered by ''eCommerce-Guide'' to be the company's strongest promotion.<ref name="ecommerce"/> The company offers a near-constant supply of promotions to its customers, largely through its website. Subscribers on the [[mailing list]] can earn points or gift certificates for making web referrals that turn into sales transactions.<ref name="infoweek"/><ref name="entretwo"/> Shamah claimed that as of September 2009, more than 500,000 friend referrals had come back to make a purchase.<ref name="ecommerce"/>
It also frequently hosts online events, and since 2010 has asked customers of all ages and ethnicities to submit to a casting resource to select a yearly model representative for the brand. Four selected individuals are brought to New York City to receive [[makeover]]s from Achelle Dunaway, e.l.f.'s Creative Director and lead makeup artist, as well as participate in a [[photo shoot]]. There are various cash prizes for nominees, and the winner is dubbed "face of e.l.f."<ref name="prnews"/><ref name="medias">{{cite news
|url=http://mediasyndicate.com/index.php?name=News&file=article&sid=16373
|title=e.l.f Cosmetics Announces "Beauty At All Ages 2011"
|last=Doyle
|first=Erin
|date=February 13, 2011
|publisher=e.l.f. Cosmetic
|access-date=2011-03-09
|archive-url=https://web.archive.org/web/20110714064724/http://mediasyndicate.com/index.php?name=News&file=article&sid=16373
|archive-date=July 14, 2011
|url-status=dead
}}</ref>
==Media presence==
e.l.f. products have been favorably reviewed in dozens of major magazines, including ''[[Glamour (magazine)|Glamour]]'', ''[[Allure (magazine)|Allure]]'', ''[[Self (magazine)|Self]]'',<ref name="peta"/> ''[[InStyle]]'', and ''[[Good Housekeeping]]''.<ref name="cnn"/> A segment on e.l.f. premiered on the ''[[Style Network]]'' as well.<ref name="stretcher"/> The business has been profiled by publications such as ''[[Entrepreneur (magazine)|Entrepreneur]]'',<ref name="finda"/><ref name="entretwo"/> ''[[CNN]]'',<ref name="cnn"/> ''Retail Merchandiser,''<ref name="retailm"/> ''[[Information Week]]'',<ref name="infoweek"/> and ''[[The Wall Street Journal]]''.<ref name="wsj"/> In December 2010, the e.l.f. product '100-Piece Endless Eyes Pro Eyeshadow Palette' was featured in "The O List: Holiday Edition" ("[[Oprah's Favorite Things]]") in [[Oprah Winfrey]]'s ''[[O: The Oprah Magazine|O]]'' magazine. The magazine stated the set included "almost every color imaginable," and the product quickly sold entirely out of stock. In January 2011, e.l.f. reintroduced the product at half price, or $10.<ref name="prweb"/>
In April 2023, e.l.f. debuted a digital series, "Vanity Table Talk", which will be released monthly on [[YouTube (channel)|YouTube]], [[Instagram]], and [[TikTok]]. The first episode featured actress [[Jennifer Coolidge]].<ref>{{Cite web |title=E.l.f. cosmetics launches "Vanity Table Talk" digital series |url=https://drugstorenews.com/elf-cosmetics-launches-vanity-table-talk-digital-series |access-date=2023-10-09 |website=Drug Store News |date=27 April 2023 |language=en}}</ref>
In November 2023, e.l.f created the Roblox experience "e.l.f UP!", a Roblox [[tycoon]] where players to promote Gen Alpha and Gen Z to become entrepreneurs, to entice players to the game, e.l.f is giving players up to 1 million free UGC (User Generated Content) on Roblox to players.
==Campaigns==
===Breast cancer funds===
During October 2004, just months after its founding, e.l.f. donated 20% of the proceeds from its 'Shimmering Facial Whip' to Win Against Breast Cancer's research and facilities. It also provided "Color Therapy Care Packages" to [[breast cancer]] patients in [[inner-city]] hospitals in [[Los Angeles]].<ref name="finda"/>
===PETA===
The brand only uses products that are [[cruelty-free]].<ref name="petahome"/> In 2007, it was announced that e.l.f. was selling [[tweezers]] in a [[faux leather]] case<ref name="petatwo">{{cite news
|url=http://www.peta.org/b/thepetafiles/archive/2007/09/14/PETA-and-elf.aspx
|title=PETA and e.l.f.
|date=September 14, 2007
|publisher=[[PETA]]
|access-date=2011-03-09}}</ref> that read "e.l.f. Professional Supports [[PETA]] in the [[PETA#Campaigns and consumer boycotts|Fur Free Campaign]]. 50% of the proceeds from sales of these tweezers go straight to PETA!" CEO Joseph Shamah later earned PETA's "Trail-Blazer Award", given for "compassion and commitment to never [[animal testing|testing on animals]]."<ref name="peta"/>
===2011 Japan earthquake and tsunami===
e.l.f. Cosmetics announced the "Mi & You Can Make a Difference" campaign days after the [[2011 Tōhoku earthquake and tsunami]] disaster, which helped fund relief efforts. The program donated 5% of all online purchases to the Red Cross for Japan's crisis recovery initiative.<ref name="japan">{{cite news
|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/30/prweb5209544.DTL
|title=e.l.f. Cosmetics Announces "Mi & You Can Make a Difference" Relief Program to Aid Japanese Earthquake Victims
|date=March 30, 2011
|access-date=2011-06-15
|work=The San Francisco Chronicle}}</ref>
== References ==
{{Reflist|2}}
==External links==
*{{Official website|https://www.elfbeauty.com}}
{{Finance links
| name = e.l.f. Beauty, Inc.
| symbol = ELF
| reuters = ELF.N
| bloomberg = ELF:US
| sec_cik = 1600033
| yahoo = ELF
| google = ELF:NYSE
}}
* [http://findarticles.com/p/articles/mi_m0DTI/is_1_33/ai_n9505493/ ''Entrepreneur'' - E.L.F. challenging industry standard of costly cosmetics] (January 2005)
* [https://web.archive.org/web/20121006021210/http://articles.cnn.com/2006-01-09/us/otr.elf_1_scott-vincent-borba-makeup-and-skin-care-products?_s=PM%3AUS ''CNN'' - A pretty face That Won't Cost an Arm or Leg] (January 2006)
* [http://www.retail-merchandiser.com/index.php?id=221:elf-cosmetics-covered&option=com_content&catid=93:archive&Itemid=284 ''Retail Merchandiser'' - E.L.F. Cosmetics? Covered] (July 2008)
* [http://www.peta.org/living/beauty-and-personal-care/elf-cosmetics.aspx ''PETA'' - Bargain Beauty Essentials Full of Cheap Thrills] (October 2010)
* [https://www.wsj.com/articles/SB10001424052748703445904576118032658742632?mod=googlenews_wsj ''The Wall Street Journal'' - It's Just Lip Gloss, Mom] (February 2011)
{{Cosmetics}}
{{S&P 400 companies}}
{{Authority control|state=expanded}}
[[Category:Companies based in Oakland, California]]
[[Category:Cosmetics brands]]
[[Category:Cosmetics companies of the United States]]
[[Category:Personal care brands]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:American companies established in 2004]]
[[Category:Companies in the S&P 400]]